Cryptocurrency scams are still prevalent all over the world, and many of them are still employing simple tactics of deceptive advertisements promising big profits. A recent case in Australia, shown by the local newspaper 9News, showed how advertising is still very effective with ordinary internet users.
According to the site’s information, a resident of Sydney, Australia fell for a scam after seeing advertisements for a cryptocurrency investment platform promising high returns. According to her, the scam cost all her savings and money that she had collected all her life.
The freelance artist and designer said she got involved in what she believed to be a Bitcoin investment company after seeing ads about the company and “hearing from people” who could benefit from the service.
The woman was told she could double her investment, and a representative later claimed that could earn up to $8,000 in a month. But it was all just one blow.
After investment, woman could no longer withdraw the money
The blow that fell on the woman is quite old on the internet and very common. The idea is that a company, pretending to be a serious form of investment, promises a profit, but after the money is transferred, a disguised extortion campaign begins that eventually takes more and more money from the victim.
After initially transferring $1,000, she was quickly persuaded to deposit more and more money into the company account, always transferring to different banks.
“[O golpe] It was very cleverly done. Before I knew it, they were in my bank accounts, taking every cent. When they started cornering me and taking large amounts from my bank, I went into shock.”
The woman claimed she was lured in because the scammers kept telling her to put in more money if she wanted to withdraw any of her “earnings.” This is a common tactic of this kind of scam, they come up with fees, insurance and all kinds of charges to “take the money” but the truth is they just get more and more out of the victim.
It is a scam that works by exploiting fear and anxiety, causing despair in the victims who eventually lose control. It’s a situation that only seems to fool the dumbest, but these scammers are masters of social and emotional engineering.
“Once I started saying ‘can I cash out some of this before I invest more money?’ they said ‘no, no, no, you still haven’t met our demands’.
$27,000 stolen by scammers, bank can’t help it
The woman only noticed that something was wrong when she asked for a written document, they sent her a contract demanding US$25,000 stating that if she didn’t pay she could be sued in court, her assets could be frozen or exposed by money laundering.
She contacted her bank, Commonwealth, but after four months of investigation, they said they could not get the money back and said in a letter that they believed she had been scammed.
The whole situation took place in 2020, but the woman only revealed now, after all the research, that she could talk about what was happening to warn others.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
